Dhaka, Oct. 17 -- Food and beverage giant Nestle said it will cut 16,000 jobs over the next two years, as its new CEO Philipp Navratil pushes to focus on products with the "highest potential returns".

The Swiss company must "change faster" to keep pace with a changing world and adopt a "performance mindset" that does not accept losing market share to rivals, said Mr Navratil.

He replaced former CEO Laurent Freixe who was fired in Septemberover a romantic relationship with an employee.

The job cuts were announced on Thursday as Nestle reported better sales figures in the first nine months of 2025, selling more products across its major categories, including coffee and sweets.

The world's largest packaged food and drink company, Nestle ...